USD20 Million Investment in Trony Aims to Accelerate Renewable Energy Generation and Drive China's Sustainable Development
Intel Capital, Intel's global investment organisation, announced today three new investments in China. This includes a new USD20 million investment in Trony Solar Holdings Co., Ltd., a leading Chinese thin-film solar energy and solution provider. Trony's main products include amorphous silicon (A-Si) PV power generation systems, A-Si solar curtain walls, A-Si solar cells, and other related solar products.
Intel Capital also signed an agreement, subject to various closing conditions, to invest in NP Holdings Limited (NPH), a technology company focused on massive electricity storage systems. These are Intel Capital's first two cleantech investments in China and are intended to accelerate local green innovation and new ways to reduce dependency on carbon-based energy generation.
NPH is a cleantech company focused on electricity storage systems for renewable energy and energy efficiency. NPH strives to take the lead in the energy and environmental protection movement in China.
"These investments demonstrate Intel Capital's ongoing commitment to investing around the globe and its strategic focus on cleantech," said Arvind Sodhani, president of Intel Capital and executive vice president of Intel. "Clean technologies are transforming our world and the landscape of entrepreneurship."
Trony plans to use its funding, including the USD20 million from Intel Capital, to enhance its production capacity to 105 megawatts,, to serve a broad base of customers, and strengthen its research and development capabilities. With growing R&D capacities, advanced application of innovative technologies, and low-cost volume manufacturing in Shenzhen, Trony now offers a diverse range of competitive products and solutions for various energy-related applications, such as solar farms in the utility industry and building materials for the construction industry.
"Intel Capital's investment will enable us to expand our leading position in the thin-film solar industry," said Li Yi, Chairman and CEO, Trony Solar Holdings Co., Ltd. "The expertise and network resources of Intel Capital consolidate our confidence to further advance in the energy sector."
"China's renewable energy industry is experiencing rapid development," said Cadol Cheung, managing director of Intel Capital Asia Pacific. "We believe these investments will be a catalyst to drive local cleantech innovation and help China toward the transition to a more sustainable energy system as well as economic growth."
